GCN - GoConnect Limited

[snsdmonkey]

Please note that this is ASF not HC, and there is no reason to really talk about what other members are doing/saying on other forums.

This looks like a typical pump and dump to me, where posters are saying that they are signifcant holders etc etc and then somehow always miracuously get out near the high and are never seen from again.

Buyer beware i say

GCN released an announcement stating there has been a new significant holder and the poster has acknowledged it was him?

Also I just wanted to spark up some conversation here. Not really much point in the thread when no one discusses even one of the more significant days in the company's history...

 

[alexc2005]

If P1 lists at 30c or greater, i don't see how this could be a pump and dump.

Let's just hope the announcements are positive.

I will admit its hard not to get caught up in the upramping. A lot of people are falling into that trap. Mind you, each to their own.

 

[snsdmonkey]

Also the WIFI deal they potentially have going is HUGE to say the least...

 

[alexc2005]

Also the WIFI deal they potentially have going is HUGE to say the least...

Yepp.

The market knows it too.

Let's just see how patient the market is though.

Still holding strong.

 

[prawn_86]

Instead of just saying how potentially huge this stock is, why dont members here provide some details of their potential projects so other ASF members can comment on it?

ASF is all about analysis, and the more you provide, the more other people will comment on it and give you different opinions

 

[alexc2005]

Instead of just saying how potentially huge this stock is, why dont members here provide some details of their potential projects so other ASF members can comment on it?

ASF is all about analysis, and the more you provide, the more other people will comment on it and give you different opinions

Good point.

As far as i know they have a couple of things going on, there may be more, but these are the main ones.

1) WIFI network in melbourne announcement coming up, believe this is a public use city wide wifi network
2) priority 1 valuation, P1 is a 50/50 deal with Go connect so therefore the share price that it lists at is expected to be the price that gcn goes to. It is expected that this price is above 30c.


In other news WOW, the momentum on this stock is insane. Up another 26% today.

Seems liek that .046 price i was considering yesterday is long gone.

Glad to be aboard.

 

[prawn_86]

1) WIFI network in melbourne announcement coming up, believe this is a public use city wide wifi network
2) priority 1 valuation, P1 is a 50/50 deal with Go connect so therefore the share price that it lists at is expected to be the price that gcn goes to. It is expected that this price is above 30c.

1. Wifi networks aren't cheap as far as i understand it. Where are they getting the money from? How long will it take to build? What figures have the put out for projected revenue?

2. Can you link me to the company annoucement giving this 30c valuation?

 

[skc]

Good point.

As far as i know they have a couple of things going on, there may be more, but these are the main ones.

1) WIFI network in melbourne announcement coming up, believe this is a public use city wide wifi network
2) priority 1 valuation, P1 is a 50/50 deal with Go connect so therefore the share price that it lists at is expected to be the price that gcn goes to. It is expected that this price is above 30c.

How many shares outstanding will P1 have vs GCN (which has 901.2m shares)?

If P1 has the same number of shares as GCN then it have a market cap of $270m... how much are they listing that company at?

 

[snsdmonkey]

2. Can you link me to the company annoucement giving this 30c valuation?

The company has no made this announcement yet. If it had, GCN would not be at 6.5c right now. It is the expected the announcement will be made within this week.

 

[prawn_86]

The company has no made this announcement yet. If it had, GCN would not be at 6.5c right now. It is the expected the announcement will be made within this week.

So where does this supposed 30c valuation come from? It seems to me as though this number is plucked from the sky which is not how ASF works. What happens if they decide to list at 5c a share? Or 2c? Or what happens if it is all pure speculation and there is no alternative listing?

If anyone is going to provide a price target, it needs to be backed up by analysis showing how you arrived at that figure. I suggest members posting int his thread read the posting guidelines, as any further posts conatining unsubstantiated price targets will be deleted.

 

[snsdmonkey]

So where does this supposed 30c valuation come from? It seems to me as though this number is plucked from the sky which is not how ASF works. What happens if they decide to list at 5c a share? Or 2c? Or what happens if it is all pure speculation and there is no alternative listing?

If anyone is going to provide a price target, it needs to be backed up by analysis showing how you arrived at that figure. I suggest members posting int his thread read the posting guidelines, as any further posts conatining unsubstantiated price targets will be deleted.

P1 has a 50/50 joint venture with GCN for their entire business, now P1 are at present getting a valuation done on their proposed business, this is part of the listing process, ie. they are not doing an IPO so to satisfy ASX listing rules they must have at least 500 shareholder each with $2k worth of P1 stock.

So P1 gave free stock to GCN holders, and had a formula that meant they need the P1 shares to be valued at 30 cents in order to satisfy the $2k holding for each shareholder.

So that is why the valuation.

Good enough for you?

 

[prawn_86]

So that is why the valuation.

Good enough for you?

I'm a little confused to be honest. Can you give a link to the company announcement showing this formula so i can look at it in detail?

500 shareholders at $2k each only equates to $1m, it doesnt matter what price they issued those shares at. Or did they give the shares to more than 500 shareholders?

 

[skc]

I'm a little confused to be honest. Can you give a link to the company announcement showing this formula so i can look at it in detail?

500 shareholders at $2k each only equates to $1m, it doesnt matter what price they issued those shares at. Or did they give the shares to more than 500 shareholders?

Prawn, this whole thing is a joke.

P1 is a private unlisted company. They want to list without an IPO. As part of the ASX listing rule they need 500 shareholders with $2k each. They achieved that by giving away some free shares (~15% of shares outstanding) to GCN holders based on a notional face value of 30c.

Where's the 30c comes from? IMHO the backend of the P1/GCN directors. P1 supposed to have some 700m shares on issue and poof we've just created $200m of value out of thin air.

Any valuation on GCN is a joke as well. They don't hold 50% of P1 shares like some said here. GCN has a 50/50 JV which was established earlier this year. The JV alledgely has a potential customer base of 400m, but actual customers of a much much lower number (if there's in fact any).

People are jumping up and down saying Groupon is valued at $X billion even though they are losing money. GCN will go to China, will go to Europe, free internet in Melb... It's like a time warp back to 1999...

BTW, in 1999 GCN's business model was to offer free internet services (dial up) but subscribers are forced to watch slow video ads that are streamed to them (dial up!). Yes back in those days who burns more money gets the highest valuation.

Another example of delusional crowd behaviour imo.

 

[prawn_86]

Cheers SKC, my thoughts also i just didnt have the time today to research as thouroughly as you do.

Other participants of this thread wanted some discussion so at least we are providing that. Still seems like a typical HC pump and dump to me, and i have seen a lot of them over the last 5 years. So many i cant even remember the names of all the different stock. CDU, AKK (i think), some ****ty diamond co in Africa that had HC members supposedly on the board etc etc Same old same old

 

[McLovin]

A WiFi network to compete against 4G. Good luck. 4G will make WiMax (what BGL is offering) redundant.

 

[tugga]

The Wifi deal I believe is to put wireless hubs on public transport as well as the terminals. They want to replicate what is already up and running in any European counties.

Now I don't know what type of speeds they are going to be offering, and if its anything like what is offered at free hotspot areas like McDonald's or nominated cafes. Then its not going to work as after a few people log on the system gets clogged.

I believe the system is going to be similar to what is available at international airports.

With current mobile phone plans offering 2-3gig of internet access, I don't really see a need for the average user to log on and painfully watch ads before they can browse.

I think its going to be aimed at people that are using their ipads and laptops on trains and buses etc...

 

[McCoy Pauley]

The Wifi deal I believe is to put wireless hubs on public transport as well as the terminals. They want to replicate what is already up and running in any European counties.

Now I don't know what type of speeds they are going to be offering, and if its anything like what is offered at free hotspot areas like McDonald's or nominated cafes. Then its not going to work as after a few people log on the system gets clogged.

I believe the system is going to be similar to what is available at international airports.

With current mobile phone plans offering 2-3gig of internet access, I don't really see a need for the average user to log on and painfully watch ads before they can browse.

I think its going to be aimed at people that are using their ipads and laptops on trains and buses etc...

How does GCN and its partners intend to monetise their offerings if this is their target market? Through advertising? It's a head-scratcher for me, although I confess I have no more than a passing familiarity with the company through David Haselhursts posts on the Eureka Report over the last few months on GCN.

 

[tugga]

How does GCN and its partners intend to monetise their offerings if this is their target market? Through advertising? It's a head-scratcher for me, although I confess I have no more than a passing familiarity with the company through David Haselhursts posts on the Eureka Report over the last few months on GCN.

AGM is today/tonight so I guess we will have to wait for that. Fingers crossed that good questions get asked and they answer them correctly. Otherwise, tomorrow could be a blood bath!

The stock has risen on hype and and cold water that is thrown onto this fire will put it out completely I believe.

 

[motorway]

Please note that this is ASF not HC, and there is no reason to really talk about what other members are doing/saying on other forums.

This looks like a typical pump and dump to me, where posters are saying that they are signifcant holders etc etc and then somehow always miracuously get out near the high and are never seen from again.

Buyer beware i say

Yes prawn this is NOT HC .. where is YOUR analysis

This looks like a typical pump and dump to me'

Chart ? A critical review of announcements ?

I am all for the right kind of ignorance !

RDW Said it all !

But what good the wrong kind of ignorance ?

I, therefore, claim that:
You need never read anything on the financial page of your newspaper
except the table of stock prices and volumes.

You need pay no attention to the news, earnings, dividend rates or
statements of corporations.

You need never study the financial or the business situation.
You need not understand railroad or industrial statistics, the money
market, the crop situation, the bank statements, foreign trade or the political
situation.

You can absolutely ignore all the thousands of tips, rumors, reports and
especially the so-called inside information that flood Wall Street.
You can discard all of these completely and finally.

UNLESS YOU DO THIS YOU WILL BE UNABLE TO GET THE BEST RESULTS
FROM YOUR MARKET OPERATIONS. RDW

massive volume
Price finally I would judge has caught up ..

That then defines all previous action as "ACCUMULATION"

There was a new substantial shareholder notice recently .


A Number of announcements pending ..
I would like to see at least one of those this week.

As far as the chart
If this opens at .07 tomorrow
no reason it can not push to new highs. ABOVE THE 2010 HIGHS.
I think RDW would agree with me .

I hold .. So DYOR
I agree nearly everything about this looks HIGH RISK
note I said Nearly .. The one thing that doesn't imo is the CHART.

At least as at close today

Motorway

 

[motorway]

AGM is today/tonight so I guess we will have to wait for that. Fingers crossed that good questions get asked and they answer them correctly. Otherwise, tomorrow could be a blood bath!

The stock has risen on hype and and cold water that is thrown onto this fire will put it out completely I believe.

AGM has already been and gone !

And the stock has in fact risen on massive buying !

111,902,839 shares just today

Motorway